Overview
- Judge Haywood S. Gilliam Jr., in a California federal court order filed Wednesday, certified a class action accusing Nvidia of hiding how much GPU sales relied on crypto mining in 2017–2018.
- The certified class covers people who bought Nvidia shares from August 10, 2017 to November 15, 2018, and the suit names the company and CEO Jensen Huang.
- The court said Nvidia did not prove its statements had no effect on the stock price, citing an internal email in which a company vice president said earlier comments helped keep the stock high.
- Plaintiffs say Nvidia routed more than $1 billion in crypto-driven GPU sales through its gaming segment, and they point to 2018 disclosures about excess inventory tied to a crypto slump followed by a roughly 28.5% two-day share drop.
- A case conference is set for April 21 to set next steps, and while certification does not decide liability, the move often raises settlement pressure and could influence how chipmakers report crypto-linked revenue.